Williams F1

[DanielSan]

Sandpit Steve said:

DanielSan said:

Sandpit Steve said:

Great news today that the Williams name will continue on in F1, hopefully for many more years to come.

I never get this, all it is now is just a name. It's relevance in the sport disappears the moment the team is no longer owned by Frank Williams, it's no different to someone bringing a new entry into the sport now called Brabham and saying at least the name Iives on.

It’s not just the name, it’s that the alternative was probably bankruptcy or administration, which would have been a sad end to such a distinguished team.

That Sir Frank and his team managed an honourable exit is worth celebrating.

Honorable in the way they can blame the new owners for the inevitable job cuts that will come rather than making the cuts themselves and running the team in a more sensible way. Good on them....

[BrettMRC]

DanielSan said:

Sandpit Steve said:

DanielSan said:

Sandpit Steve said:

Great news today that the Williams name will continue on in F1, hopefully for many more years to come.

I never get this, all it is now is just a name. It's relevance in the sport disappears the moment the team is no longer owned by Frank Williams, it's no different to someone bringing a new entry into the sport now called Brabham and saying at least the name Iives on.

It’s not just the name, it’s that the alternative was probably bankruptcy or administration, which would have been a sad end to such a distinguished team.

That Sir Frank and his team managed an honourable exit is worth celebrating.

Honorable in the way they can blame the new owners for the inevitable job cuts that will come rather than making the cuts themselves and running the team in a more sensible way. Good on them....

What would you rather happen at this point?

[snotrag]

Sandpit Steve said:

It’s not just the name, it’s that the alternative was probably bankruptcy or administration, which would have been a sad end to such a distinguished team.

That Sir Frank and his team managed an honourable exit is worth celebrating.

Exactly. Its great news and I'm sure that all in the F1 circus are happy about it. Williams is a name that deserves to remain in F1 for the future, but this was impossible in their current guise.

If they can get some money in, give the drivers a half decent car next year, and get some good points on the board it will be huge for them.

I also think (and hope) that Frank and Claire will, and deserve to, remain 'at the head' of the business in at least an advisory/honorary/PR type fashion.

Especially if what we think about 'BCE ltd and its potential relation to a small white haired wealthy man is true, I dont think they will be just sent packing.

[Fundoreen]

Good for them. They kept calm heads and went for the best option . Seems like people have been trying to get them to sell up for years . They were not stupid and waited till the concord deal was signed giving the team much greater value.
Expect them to buy every possible part the can off mercedes plus hang around the mercedes wind tunnel where the local lads keep forgetting to log out before leaving for the day.
Sadly any owner with capital in its title will maximize the money they load on as debt and take it out as profits or whatever they do in the crooked world of finance that decent human beings cant comprehend.

[DanielSan]

BrettMRC said:

What would you rather happen at this point?

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

[thegreenhell]

DanielSan said:

BrettMRC said:

What would you rather happen at this point?

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

Are you a bitter employee/ex-employee?

[Fundoreen]

A concerted effort to bury them and pick up the pieces on the cheap seems to have failed lol.

[thegreenhell]

The share price is trading up 10% today, the highest it's been in more than a year, but still only 3/5 of its peak value in 2013.

[citizensm1th]

DanielSan said:

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

You seem very angry about someone doing what they want with their company that they built from scratch.

They owe nobody anything, they provided employment for hundreds of people for years through their own hardbwork and enterprise,

What are you some type of communist or something?

[TheDeuce]

DanielSan said:

CoolHands said:

DanielSan said:

thegreenhell said:

Are you a bitter employee/ex-employee?

Nope. So you can fk off as well

I'm not in my most tolerant mood today. Can you tell...

I sense a degree of frustration - reading between the lines

Anyway, I kind of agree with some of your thoughts - the family were probably a bit too hesitant (reluctant) to accept that the team couldn't survive without changes that they weren't willing to make, due to their principals or whatever. Selling at least one, probably two years ago would have been better I think. It has worked out quite nicely that they have been able to sell with the added value of a new concorde agreement.. But that only adds so much value. They have\surely lost more value by making a cash loss and losing sponsors in the same time, not to mention reduced performance on track = reduced championship monies coming in.

That's pretty cold logic - the fact is they were emotionally driven in their decision making and I think in the end they needed to see and feel the walls closing in before making a the final, very reluctant decision to sell.

It's not all about logic, it's about the human factor too.

[andburg]

its is odd, seeing an equity firm take control of a team in a sport where I would assume only the top 2 teams actually make a profit!

Ferrari / Merc may directly make money

Red bull / Alpha Tauri - its an advertising platform
McLaren - used to sell cars
Renault - used to advertise Renault as a sporting, technologically forward brand
Alfa Romeo - advertising for FCA
HAAS - advertising for HAAS Automation
Racing Point - not a clue

There must be some big picture way that the F1 team will be leveraged surely?

[Sandpit Steve]

Good analysis of the Williams sale from the official F1 site:
https://www.formula1.com/en/latest/article.analysi...
A £50m payday for Sir Frank, who managed to hold a 52% share right to the end. Congratulations to him, a great reward for a lifetime’s work.

[Muzzer79]

So they had €40m of debt.

Given the schtuck they've been in, I'm surprised it's that low.

I thought Frank and the family had hocked everything they had to keep it going?

Whilst £52m is a nice cheque for him, he must have some mortgages to pay off that he didn't have a few years ago....

And what would he have got if he sold to BMW in the early 2000s? Of course, it's not about money for him though.

[citizensm1th]

TheDeuce said:

I sense a degree of frustration - reading between the lines

Anyway, I kind of agree with some of your thoughts - the family were probably a bit too hesitant (reluctant) to accept that the team couldn't survive without changes that they weren't willing to make, due to their principals or whatever. Selling at least one, probably two years ago would have been better I think. It has worked out quite nicely that they have been able to sell with the added value of a new concorde agreement.. But that only adds so much value. They have\surely lost more value by making a cash loss and losing sponsors in the same time, not to mention reduced peroformance on track = reduced championship monies coming in.

That's pretty cold logic - the fact is they were emotionally driven in their decision making and I think in the end they needed to see and feel the walls closing in before making a the final, very reluctant decision to sell.

It's not all about logic, it's about the human factor too.

Could have been worse they could have sat down in a meeting and decided that they would upset some bloke on a pokey little website called Dan and that in light of that they should have not signed the agreement and closed up shop immediately to retire to the South of France to spend their millions

[Piginapoke]

Muzzer79 said:

So they had €40m of debt.

Given the schtuck they've been in, I'm surprised it's that low.

I thought Frank and the family had hocked everything they had to keep it going?

Whilst £52m is a nice cheque for him, he must have some mortgages to pay off that he didn't have a few years ago....

And what would he have got if he sold to BMW in the early 2000s? Of course, it's not about money for him though.

Williams sold majority of Advanced Engineering subsidiary to EMK Capital in 2019, think it brought in about £40m

[Will O. Bey jr]

citizensm1th said:

DanielSan said:

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

You seem very angry about someone doing what they want with their company that they built from scratch.

They owe nobody anything, they provided employment for hundreds of people for years through their own hardbwork and enterprise,

What are you some type of communist or something?

That was a touching story, especially the Hardbwork, must be something released on a Dutch white label?
I'm guessing you're big fan of 0 hour contracts?

[citizensm1th]

Will O. Bey jr said:

citizensm1th said:

DanielSan said:

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

You seem very angry about someone doing what they want with their company that they built from scratch.

They owe nobody anything, they provided employment for hundreds of people for years through their own hardbwork and enterprise,

What are you some type of communist or something?

That was a touching story, especially the Hardbwork, must be something released on a Dutch white label?
I'm guessing you're big fan of 0 hour contracts?

Do Williams use zero hour contracts?

[Will O. Bey jr]

citizensm1th said:

Will O. Bey jr said:

citizensm1th said:

DanielSan said:

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

You seem very angry about someone doing what they want with their company that they built from scratch.

They owe nobody anything, they provided employment for hundreds of people for years through their own hardbwork and enterprise,

What are you some type of communist or something?

That was a touching story, especially the Hardbwork, must be something released on a Dutch white label?
I'm guessing you're big fan of 0 hour contracts?

Do Williams use zero hour contracts?

Ah so your attitude is limited to Williams then?

[Munter]

Will O. Bey jr said:

Ah so your attitude is limited to Williams then?

Obvious troll is obvious.

[citizensm1th]

Will O. Bey jr said:

citizensm1th said:

Will O. Bey jr said:

citizensm1th said:

DanielSan said:

Own their own bullst and admit their failings? Somehow the family get off scot-free with fking the whole situation up, while now walking away with a big stack of cash and a fk you to their employees. In no other team would Claire have been kept in her position for so long yet everyone seems happy to keep making excuses and say how good a job she's done.

You seem very angry about someone doing what they want with their company that they built from scratch.

They owe nobody anything, they provided employment for hundreds of people for years through their own hardbwork and enterprise,

What are you some type of communist or something?

That was a touching story, especially the Hardbwork, must be something released on a Dutch white label?
I'm guessing you're big fan of 0 hour contracts?

Do Williams use zero hour contracts?

Ah so your attitude is limited to Williams then?

Well this thread is about Williams if you would like to start a thread about zero hours contracts in NP&E I will gladly give you my left wing neo communist views on employment practices in the county.